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ANWA Aberdeen New Thai Investment Trust Plc

0.00
0.00 (0.00%)
Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen New Thai Investment Trust Plc LSE:ANWA London Ordinary Share GB00BMCL8X32 ORD 25P 'A' RIGHTS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Aberdeen New Thai Inv Trust PLC 2nd General Meeting Result & Scheme Entitlements (8413R)

09/11/2021 3:00pm

UK Regulatory


TIDMANWA

RNS Number : 8413R

Aberdeen New Thai Inv Trust PLC

09 November 2021

 
      ABERDEEN NEW THAI INVESTMENT TRUST PLC (in members' voluntary 
       liquidation) 
       LEI: 213800LUTHTZ8LS5UK85 
       9 November 2021 
       Result of Second General Meeting 
       In connection with the proposals for a combination of the assets 
       of Aberdeen New Thai Investment Trust PLC (the "Company") with 
       abrdn China Investment Company ("ACIC") (formerly Aberdeen 
       Emerging Markets Investment Company Limited ("AEMC")) by means 
       of a scheme of reconstruction and winding up of the Company 
       under section 110 of the Insolvency Act 1986 (the "Scheme"), 
       the Company is pleased to announce that the special resolution 
       to wind up the Company and place the Company into members' 
       voluntary liquidation was voted on and approved by the Company's 
       shareholders at the Second General Meeting held earlier today 
       and that Derek Neil Hyslop and Richard Peter Barker of EY Parthenon, 
       Atria One, 144 Morrison Street, Edinburgh, EH3 8EX have been 
       appointed as joint liquidators.                     Votes For 
                              (inc.                Votes 
        Resolution        Discretionary)    %      Against    %    Votes Total   Votes Withheld 
        That subject 
         to certain 
         conditions, 
         the Company 
         be wound-up 
         voluntarily 
         and the joint 
         liquidators 
         appointed          11,946,891     98.9   134,681    1.1   12,364,741       283,169 
                         ---------------  -----  ---------  ----  ------------  --------------- 
 
       The full text of the special resolution can be found in the 
       notice of the Second General Meeting contained in the Company's 
       circular to Shareholders dated 4 October 2021 (the "Circular"). 
       The Circular is available for viewing on the Company's website, 
       www.newthai-trust.co.uk and at the National Storage Mechanism 
       at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . 
       The Company's Reclassified Shares were suspended at 7.30 a.m. 
       on 9 November 2021. 
       The Company, through its advisers, has notified the London 
       Stock Exchange of the Company's intention to cancel the Company's 
       admission of the ordinary shares to trading at 8:00 a.m. on 
       11 November 2021. 
       Scheme entitlements 
       As at the Calculation Date the scheme entitlements calculated 
       in accordance with the terms of the Scheme were as follows: 
        *    ANW FAV per Share: 456.54 pence 
 
 
        *    Cash NAV per Share: 445.83 pence 
 
 
        *    AEMC (now ACIC) FAV per Share: 821.18 pence 
 
 
       Therefore, Shareholders will receive the following cash and/or 
       number of AEMC (now ACIC) Shares: 
       For Shareholders that elected for the Cash Option: 
        *    each Share with B rights attached to it will receive 
             445.83 pence in cash. 
 
 
       For Shareholders that elected (or are deemed to have elected) 
       to receive AEMC (now ACIC) Shares: 
        *    each Share with A rights attached to it will roll 
             over into approximately 0.5559540 AEMC (now ACIC) 
             Shares. 
 
 
       As noted in the Circular, the Directors have set aside sufficient 
       assets in the Liquidation Pool to meet all estimated liabilities 
       and contingencies, including the costs of the winding up of 
       the Company and the costs of implementing the Scheme. The Directors 
       have also provided in the Liquidation Pool for a retention 
       of GBP100,000 (equivalent to 0.6 pence per Share) which they, 
       together with the Liquidators, consider sufficient to meet 
       any unknown or unascertained liabilities of the Company. The 
       Liquidation Pool will also include an amount of approximately 
       GBP464,926 (equivalent to 2.9 pence per Share) in respect of 
       accrued income not yet received and other receivables. 
       The Liquidation Pool will be applied by the Liquidators in 
       discharging all current and future actual and contingent liabilities 
       of the Company and, any balance remaining after discharging 
       such liabilities from the Liquidation Pool will in due course 
       be distributed to Shareholders on the Register on the winding-up 
       date pro rata to their respective holdings of Shares in accordance 
       with the terms of the Scheme. 
       Following the appointment of the joint liquidators, all further 
       enquiries regarding the Company should be made to the joint 
       liquidators, whose contact details are below. 
       In accordance with the Circular, Shareholders who elected, 
       or were deemed to have elected, for the Rollover Option will 
       receive their new AEMC (now ACIC) Shares via CREST holders 
       on 10 November 2021 and, in relation to certificated shareholders, 
       the week commencing 15 November 2021. Shareholders who elected, 
       or were deemed to have elected, for the Cash Option will receive 
       their entitlements in the week commencing 15 November 2021 
       via CREST and/or cheque. 
       Defined terms used in this announcement have the meanings given 
       in the Circular unless the context otherwise requires. 
 
       Enquiries : Joint Liquidators 
         Derek Hyslop and Richard Barker      Tel. +44 (0) 131 460 2310 
         Contacts: 
         Craig Robertson/Rhiannon Leighton    Email: 
                                              crobertson3@parthenon.ey.com 
                                              rhiannon.leighton@parthenon.ey.com 
                                              Post: 
                                              Aberdeen New Thai Investment 
                                              Trust PLC 
                                              (in members' voluntary liquidation) 
                                              c/o EY Parthenon 
                                              Atria One 
                                              144 Morrison Street 
                                              Edinburgh, EH3 8EX 
        abrdn 
         Maria Allen/Gary Jones/William       Tel. +44 (0) 20 7463 6000 
         Hemmings 
 
 
       Note: The content of the Company's web-pages and the content 
       of any website or pages which may be accessed through hyperlinks 
       on the Company's web-pages, other than the content of the document 
       referred to above, is neither incorporated into nor forms part 
       of the above announcement. 
 
 

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END

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November 09, 2021 10:00 ET (15:00 GMT)

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